schellmis63 Posted March 20, 2004 Report Share Posted March 20, 2004 I see that Arrows is looking at my CR. They did a hard pull. I have not recieved any collection letters from these guys. Any suggestions. I am assuming they have something? Link to comment Share on other sites More sharing options...
DocDon Posted March 20, 2004 Report Share Posted March 20, 2004 More than likely. The loophole in the FCRA indicates permissible purpose for the review or collection of an account. CAs will pull your report when they're assigned the account.If you're sent a notice and dispute it, they cannot move to place the collection on your reports, or view your report - the FDCPA clearly states they are to cease all collection activity. Link to comment Share on other sites More sharing options...
schellmis63 Posted March 20, 2004 Author Report Share Posted March 20, 2004 Thanks. I am catching on to this. I will keep my eyes out for the mail to come. Link to comment Share on other sites More sharing options...
herauntsis Posted March 20, 2004 Report Share Posted March 20, 2004 Don't wait for the mail to come -- they could very well report it on your credit without contacting you first (although, if you live in California, that is a violation, and as soon as the new FCRA goes into affect, it will be a violation everywhere). Send them a PP and DV letter combined right away -- that will prevent them from reporting on your credit until they validate the debt, or at least give you one more violation against them.I have heard around that sometimes they will pull your credit before they have either bought or been assigned the account. If that is true, they may not have had PP to pull your credit and they owe you -- you peek, you pay. Link to comment Share on other sites More sharing options...
mnorwood Posted March 20, 2004 Report Share Posted March 20, 2004 I haven't heard the details of the new FCRA yet, when does it go into effect? I especially like they can't put their stupid collections on without notifying you! Link to comment Share on other sites More sharing options...
herauntsis Posted March 20, 2004 Report Share Posted March 20, 2004 I don't know when it is going into effect -- I think the FTC is supposed to decide that. From what I understand, it says that NOBODY can report negative info on you without notifying you first. Link to comment Share on other sites More sharing options...
DocDon Posted March 20, 2004 Report Share Posted March 20, 2004 That's supposed to go into effect this fall. Yes, definately get that letter out ASAP. Link to comment Share on other sites More sharing options...
schellmis63 Posted March 21, 2004 Author Report Share Posted March 21, 2004 I should DV them and state what? That I see that they have been opening my CR? That I want validation? What do you think that I should say to these nice lovely people. lol Link to comment Share on other sites More sharing options...
schellmis63 Posted March 21, 2004 Author Report Share Posted March 21, 2004 I forgot to say that they did a hard pull in Jan and now again early this month.. Is that legal? Link to comment Share on other sites More sharing options...
Leadhead Posted March 21, 2004 Report Share Posted March 21, 2004 I don't know when it is going into effect -- I think the FTC is supposed to decide that. From what I understand, it says that NOBODY can report negative info on you without notifying you first.Is that really true!?!What section is that in? That's a provision that's looooonnnnggg overdue. Link to comment Share on other sites More sharing options...
herauntsis Posted March 21, 2004 Report Share Posted March 21, 2004 I goofed -- I didn't read the whole thing, but the only part I found that related to this has to do with OCs, not CAs.It's 623(a)(7).I am going to have to read the whole thing -- I was really excited that CAs wouldn't be able to report without notifying the consumer, but I think I was wrong about that. Link to comment Share on other sites More sharing options...
DocDon Posted March 21, 2004 Report Share Posted March 21, 2004 § 623. Responsibilities of furnishers of information to consumer reporting agencies(7) Negative Information(A) Notice to Consumer Required(i) In general. If any financial institution that extends credit and regularlyand in the ordinary course of business furnishes information to a consumer reporting agency described in section 603(p) furnishes negativeinformation to such an agency regarding credit extended to a customer,the financial institution shall provide a notice of such furnishing ofnegative information, in writing, to the customer.(ii) Notice effective for subsequent submissions. After providing such notice, the financial institution may submit additional negative information to a consumer reporting agency described in section 603(p) with respectto the same transaction, extension of credit, account, or customerwithout providing additional notice to the customer. Link to comment Share on other sites More sharing options...
legend Posted March 26, 2004 Report Share Posted March 26, 2004 Don't wait for the mail to come -- they could very well report it on your credit without contacting you first (although, if you live in California, that is a violation, and as soon as the new FCRA goes into affect, it will be a violation everywhere). Send them a PP and DV letter combined right away -- that will prevent them from reporting on your credit until they validate the debt, or at least give you one more violation against themI'm in the same boat. 3 Hard inquiries by Arrow in 6 months and no collections yet? What am I asking them to validate? I havent seen a sample letter on PP anywhere, and I'm having a hard time finding a good thread specificaly geared towards PP? Link to comment Share on other sites More sharing options...
schellmis63 Posted March 26, 2004 Author Report Share Posted March 26, 2004 Yes, they have two hard pulls and no referance why, no collections. I think this is illegal. There is an advocate (lawyer who is looking for people who have dealings with them, but this is for the state of Ill. DocDon had cut and pasted some info but I am sorry, I don't understand it. Thanks DocDon, I just don't have the patients to read between the lines but I will go back and read it. Link to comment Share on other sites More sharing options...
c m chase Posted March 26, 2004 Report Share Posted March 26, 2004 Legend- here's that link I wanted you to look at. http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=14605&highlight= Link to comment Share on other sites More sharing options...
J_Snow Posted March 29, 2004 Report Share Posted March 29, 2004 Arrow got my 'What the heck are you looking at my CR for' letter today.Wonder if those inqs will disappear now? Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Report Share Posted March 29, 2004 Ok, so what you guys are saying is that we should shoot a CA a letter like J.'s even if they haven't sent a letter of collection or reported to the CRA yet? The main reason for this is to remove a "hard" inquiry or is there another reason? Just checking to be sure I understand the reasoning behind this before I light out on someone that has done nothing - yet - except pull my report. Link to comment Share on other sites More sharing options...
J_Snow Posted March 29, 2004 Report Share Posted March 29, 2004 Ok, so what you guys are saying is that we should shoot a CA a letter like J.'s even if they haven't sent a letter of collection or reported to the CRA yet? The main reason for this is to remove a "hard" inquiry or is there another reason? Just checking to be sure I understand the reasoning behind this before I light out on someone that has done nothing - yet - except pull my report.Thats exactly why I'm doing-and to see if will work. Its on my TU report only so its not really impacting me that much. But what the heck-its worth a try. And if they are holding some old debt of mine, this might keep it from ever going any farther.J Link to comment Share on other sites More sharing options...
sjhnjah Posted March 29, 2004 Report Share Posted March 29, 2004 Hi J.Be sure you keep us posted. I have one from Arrow I would like to get removed. There is another one that I just noticed on TU dated 3/15 called Asset, LLC but it states for "financial, personal" reasons. I have not made application for anything for years so I don't know what to make of it. Link to comment Share on other sites More sharing options...
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